Procida Funding & Advisors Provides $14.5M Loan For Multifamily Property In Northvale
99 Paris Avenue, Northvale, NJ, USA
$14,500,000
$8,620/SF
Building Size
1,682 SF
Asset Type
MultiFamily
Closing
Dec 22, 2020
AI
Located at 99 Paris Avenue in Northvale, this multifamily property consists of 46 units. The transaction took place on December 23, 2020, and the loan amount involved was $14,500,000. The property is owned by Northvale Green LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,500,000
- Units: 46
- Address: 99 Paris Avenue
- Market: Northvale
The loan for this transaction was provided by Procida Funding & Advisors, with William Procida representing the lending agency. It is worth noting that Billy Procida's image was shared on Instagram in relation to this deal.
Players
Northvale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93